Smart50 rank: 39
Revenue: $1,361,681
Growth: 46.27%
Founders: Chris Hill, 41 and Chan Min (Anderson) Chong, 35
Based: Western Australia
Employees: 8
Industry: Information technology
Website: www.iquest.com.au
The founders of IT consulting business iQuest Consulting, Chris Hill and Anderson Chong, were consulting to an SME when they came across the inspiration for their business.
"We attempted to access quality IT services... and couldn't," Hill says. "The small companies didn't have the expertise, and the large companies didn't care. That is the niche we now service, providing a wide range of experience and expertise with superior service levels."
But like many start-ups, the iQuest founders discovered that coming up with a business idea was simple compared to the challenge of finding a value proposition.
"Starting a business from scratch is very hard, particularly when you don't understand what is unique about your business and particularly in relation to service-based businesses. It is extremely important to understand this," Hill says.
One big advantage the business did have was a ready-made client base, which the directors bought with them from their previous roles. "If you don't have this, getting started can be a very tedious process."
While finding staff was another challenge - particularly in the skills-starved West Australian market - Hill says that through trial and error the directors have been able to assemble a quality team.
"Now we make sure that we keep our staff happy and motivated through wages, conditions and the nature of the work we provide them."
While the lingering effect of the property boom has helped insulate the IT sector in WA from the worst of the downturn, Hill says there has been some consolidation among the smaller players in the market.
That should provide the company with opportunities as the recovery gathers momentum.
"We actually feel as though our opportunity to grow the business is improved given the difficulties faced by some of the smaller players in the market, which creates the possibility of growth through acquisition."
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